Israel Will Explore Desert for Petroleum
Israel will launch a three-year, $19.2-million search for oil in its Negev Desert next month in an effort to achieve independence from foreign sources, Energy Minister Moshe Shahal announced.
The project, half funded by a dozen American investors including billionaire Armand Hammer, will be the first systematic search for oil in the Negev in the state’s history.
Israel has some 15 oil wells which produce about 365,000 barrels per year, a mere fraction of the country’s annual needs of 45 million barrels, Shahal said.
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